Centrica buys New York retail firm
21st Mar 2011 07:01
British Gas owner Centrica is to expand its retail presence in the US with the purchase of New York-based energy retailer Gateway Energy Services. The company is paying $90m in cash, including $13m of tax assets plus additional working capital, for Gateway. The New York-based company has more than
Read moreBroker tips: Power companies, Sainsbury, Aveva
18th Mar 2011 13:07
The unfolding events in Japan are likely to have shifted the public's perception of nuclear energy, but it is still very early to say exactly how this will affect the UK power sector, according to broker Matrix. "We have analysed a number of speculative global policy responses to show the impact on
Read moreBroker snap: Nuclear impact on UK power sector
18th Mar 2011 10:14
The unfolding events in Japan are likely to have shifted the public's perception of nuclear energy, but it is still very early to say exactly how this will affect the UK power sector, according to broker Matrix. "We have analysed a number of speculative global policy responses to show the impact on
Read moreJapan quake could mean higher energy prices for UK
14th Mar 2011 10:06
Friday's devastating earthquake and a second explosion at Japan's Fukushima Dai-ichi nuclear plant may send global gas and electricity prices higher. Analysts at broker Matrix warn that Japan may lose at least 5% of its generation capacity permanently. This will be made up by gas fired power, requi
Read moreSunday tips round-up: Centrica, CPP, WPP...
6th Mar 2011 11:19
Centrica is a buy despite the big unknowns of a looming reform of the country's electricity market - with crucial consequences for the potential returns of utility investors - and a possible Competition Commission inquiry. But ministers don't have much choice but to make decisions that keep the ene
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
Read moreLondon midday: Shares still lower as Libya crisis continues
24th Feb 2011 12:11
Shares are stuck in the red as the oil price stays high amid ongoing turmoil in Libya. The north African country itself only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Saudi Arabia and Algeria. Brent crude jumped to $119.79
Read moreLondon open: Fourth day of falls as oil passes $119
24th Feb 2011 08:31
Shares are down for the fourth day in a row as the Libyan crisis continues to cast a shadow. Today's stream of company results has been given a mixed reception. Worries over the ongoing crisis in Libya - and concerns that other oil rich nations could be affected by protsests - continue to drive the
Read moreLondon pre-open: Light at end of RBS tunnel
24th Feb 2011 07:34
London cannot seem to find forward gear this week, with concerns about Libyan and the soaring oil price continuing to weigh on investors' minds. The blue-chip index is expected to dive below 5,900 at the outset, with City sources predicting a fall of around 35 points from yesterday's close of 5,924
Read moreCentrica enjoys cold weather boost
24th Feb 2011 06:01
Profits soared at British Gas owner Centrica in the year to 31 December as the cold weather towards the end of last year forced homeowners to crank up the heating. Pre-tax profits climbed to £2.8bn from £996m the previous year on revenues that rose to £22.4bn from £22bn. Revenues in the UK downstr
Read moreLondon close: Shares slump as Libya worries linger
23rd Feb 2011 16:52
More weakness in the US helped send shares in London sharply lower, with the Libyan crisis and the consequent higher oil price weighing on sentiment. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm, though it has dipped down below $109 again since then. The $3+
Read moreThursday preview: RBS, Centrica, Capita ...
23rd Feb 2011 16:36
Thursday is the big day for results, as usual, with the likes of British American Tobacco, Barratt Developments, Capita, Centrica, National Express, Royal Bank of Scotland, RSA Insurance and St. James's Place all updating the market. Nomura Securities is predicting total 2010 operating profit for R
Read moreLondon afternoon: Oil lubricates slippery slope
23rd Feb 2011 14:22
An attempted rally in the morning was already fizzling out as the afternoon started, and prices continued to drift lower over the lunchtime trading session, as investors continue to fret about the higher oil price. Brent crude for April delivery surged to more than $109 per barrel shortly after 2pm
Read moreCentrica signs £2bn Qatar gas deal
23rd Feb 2011 12:39
British Gas owner Centrica underlined the importance of the Middle East for British interests today with the announcement that it has signed a £2bn deal with Qatar to secure enough liquefied natural gas (LNG) to meet 10% of household gas demands. Centrica, whose chief executive Sam Laidlaw was in t
Read moreMonday newspaper round-up: Energy groups, Retail sales, RBS...
7th Feb 2011 06:42
The big six energy companies could be driven from Britain if they are treated too harshly in any pricing investigation, a senior minister has told The Times. In an intervention likely to put pressure on regulators, Charles Hendry said that suppliers might be too important to future energy security
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